Alico (NASDAQ:ALCO) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Alico, Inc. (NASDAQ:ALCO) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $33.82 and traded as high as $36.92. Alico shares last traded at $36.52, with a volume of 17,980 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Roth Capital reaffirmed a “buy” rating and set a $42.00 price target on shares of Alico in a research report on Wednesday, November 26th. Weiss Ratings restated a “sell (d)” rating on shares of Alico in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $42.00.

Alico Price Performance

The stock has a 50 day simple moving average of $35.07 and a two-hundred day simple moving average of $33.82. The firm has a market cap of $279.74 million, a PE ratio of -1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.79, a quick ratio of 8.83 and a current ratio of 9.56.

Alico (NASDAQ:ALCO) last issued its earnings results on Monday, November 24th. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.71). The company had revenue of $0.80 million during the quarter, compared to analysts’ expectations of $0.30 million. Alico had a negative return on equity of 78.98% and a negative net margin of 334.35%. Sell-side analysts expect that Alico, Inc. will post -0.37 earnings per share for the current year.

Alico Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, January 2nd. Alico’s dividend payout ratio is currently -1.04%.

Hedge Funds Weigh In On Alico

Several large investors have recently made changes to their positions in the company. Invesco Ltd. boosted its holdings in Alico by 8.2% during the first quarter. Invesco Ltd. now owns 19,169 shares of the company’s stock worth $572,000 after buying an additional 1,458 shares in the last quarter. Nuveen LLC acquired a new position in shares of Alico in the first quarter worth about $178,000. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. raised its position in shares of Alico by 99.7% in the first quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 16,695 shares of the company’s stock worth $498,000 after acquiring an additional 8,335 shares during the period. Ellsworth Advisors LLC purchased a new stake in shares of Alico during the 1st quarter worth about $657,000. Finally, Oak Family Advisors LLC acquired a new stake in shares of Alico during the 2nd quarter valued at about $1,531,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Alico Company Profile

Alico, Inc is an agribusiness and land management company headquartered in Fort Myers, Florida. The company owns and manages over 110,000 acres of land in southwestern Florida, with operations focused on citrus groves, sugarcane production, forestry and other row crops. Alico leverages its extensive land holdings to support integrated agricultural and environmental stewardship practices.

In its citrus division, Alico cultivates and markets fresh oranges for both the retail and processing markets, while its sugarcane segment supplies raw cane to domestic sugar mills.